Breaking Your Lease in NYC: A Step-by-Step Guide
Breaking your lease in NYC can be stressful, but not impossible. In this article we’ll walk you through whether or not you can break your lease, why you may want to do so, and how to break your lease in the most amicable way possible.
NOTE: This guide is intended solely for informational purposes. It is not a replacement for legal advice or services provided by an attorney. You should consult with a licensed attorney in your area before relying on this information for any purpose.Quick Definition
Lease Break: When you leave an apartment before your lease terms expires without continuing to pay the rent.
Can you break a lease in NYC?
Yes you can break a lease in New York City. You may face consequences depending on how you do it.
Reasons to Break Your Lease
You’re Buying a Home: You casually go to an open house for an apartment for sale down the block. You love it, but you just resigned your rental lease. You may want to break your lease so you don’t have to wave your dream apartment goodbye.
You Hate Your Place: Ever think you’ve found your dream apartment only to realize you have the worst neighbors ever? Sometimes you just need to get out.
Your Life Circumstances Have Changed: Sometimes we sign a lease thinking we'll be there for the full term, but then a new job opportunity requires you to re-locate.
You Have Legally Protected Reason To Need Break Your Lease: If you are a victim of domestic violence, called to active military duty, living in unsafe conditions, are above a certain age and moving to an assisted living facility, or are having your privacy rights violated by and landlord, you can likely break a lease with out penalty.
How to: Breaking Your Lease
Check If Your Lease Has a Termination Clause
Read your lease carefully to determine if it allows you to terminate the lease early. Most leases won’t have this stipulation, but it’s always a good idea to check.
Talk To Your Landlord
If your lease doesn’t have a termination clause - or even if it does - it’s a good idea to get on the phone with your landlord. Be careful how you approach this conversation. Start things slowly. Asking a hypothetical open ended question avoids putting your landlord on the defensive.
Ask: “If I had to break my lease what would be the steps or process you’d be comfortable with?”
Time Your Lease Break
Consider the time of the year you are attempting to break your lease. In the summer rents are higher, and landlords love making more money. If you happen to be moving out in June, July or August, remind your landlord that they could potentially get even more for your apartment than you’re paying now.
Consider Finding a replacement TENANT
Landlord’s hate losing money. Your landlord will likely be OK with you breaking the lease provided that you find a replacement tenant.
Technically, New York requires landlords to make ‘reasonable and customary’ effort to re - rent the unit once they receive written notice of your intent to break the lease. However, renters may find that some landlord’s won’t actually go out of their way to re-rent units, or may be selective about who they accept, so it’s in your best interest as a renter to expedite this process by doing the following:
Hire a Realtor: You can find a realtor you prefer, or pay the realtor the landlord usually uses. You’ll be on the hook to pay them, but the cost to you will be likely only be as high as one month’s rent - and can even be $0.
Put Out Ads Online: Re-list the property on well trafficked sites like StreetEasy.
Of course, you should only be advertising the apartment for rent with your landlord’s permission.
If you’re breaking your lease to buy a property, hire a buying agent
You don’t want to accidentally end your lease too early and end up without a place to stay. A professional buyer’s agent will help you secure the winning bid on the new property and establish a reasonable timeline from accepted offer to close.
Breaking Your Lease NYC FAQ
Can you legally break a lease in NYC?
Yes here are the legal reasons why someone can break a lease with no reprocussions.
If you’re the victim of domestic violence - and have secured an order of protection.
If you enter active duty military service after signing a lease.
If you’re living in unsafe conditions as outlined by the New York Health and Safety Codes.
If your landlord is violating your right to privacy.
If you’re of a certain age and moving to an assisted living facility.
If you are in none of these categories and you move out and stop paying rent without your landlord having secured a replacement tentant, you are in violation of your lease contract and your landlord will likely sue you for the lost rent.
How much does it cost to break a lease in New York?
It can cost as little as nothing or as much as the remainder of the rent that you owe until the end of your lease term.
How much notice do I need to terminate a tenancy in New York?
Once you provide a written notice to your landlord, the official lease break clock starts. You need to provide your landlord 30 days notice that you are planning on vacating the premises. Be careful; if your rent is due on the first of each month and you deliver a notice of termination on April 10th, the earliest your lease can terminate is June 1.
Does breaking a lease hurt your credit?
It absolutely can - but it may not. Credit bureaus do not track your payment information. They rely on individuals and corporations to report missed payments. That being said, if your landlord reports your lease break to any of the credit bureaus, you can expect your credit score to be impacted.
What is the best excuse to break a lease?
If you’re not in one of the protected groups outlined above, you really don’t need any sort of excuse to at least attempt a lease break. Just make sure you go about your lease break in the correct manner. It’s never a bad idea to talk with a tenants right’s lawyer if you have specific questions about whether or not you can break a lease without consequences.
You don’t have to make the transition alone
Breaking your lease can be a stressful experience, especially if you’re navigating the process completely by yourself. It’s always a good idea to get personalized advice from a professional who is more familiar with the process.
As someone who has supported my clients through this process, I’m here to help you too. If you’re thinking about moving soon, you can always reach out to me for a free, no-obligation consultation. And if you’re not ready to hop on the phone, you should take advantage of my FREE Ultimate Home Buyer’s Guide, which is packed with information to help you feel more in control of your home buying journey in general.
